NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions

Do or Die For Bitcoin Bulls: Here’s What Could Trigger A Sharp Decline 2020-01-23

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:40 pm
2 mins read
Bitcoin BTC

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin bulls are facing an uphill task near $8,700 and $8,800 against the US Dollar. BTC price could either rally above $8,800 or decline heavily below $8,470 in the coming sessions.

  • Bitcoin is showing a few bearish signs after it was rejected near $8,800.
  • The price is currently sliding and it is approaching the key $8,560 and $8,470 support levels.
  • There is a major bearish trend line forming with resistance near $8,640 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could either start a fresh increase above $8,800 or decline heavily below $8,470.

Bitcoin Price Could Slide Below $8,470

In the past couple of analyses, we discussed the importance of the $8,800 resistance for bitcoin against the US Dollar. Recently, BTC price tested the $8,800 resistance, but it failed to continue higher.

A high was formed near $8,800 and the price started declining. It traded below the $8,700 and $8,650 levels. Moreover, there was a break below the 23.6% Fib retracement level of the upward move from the $8,335 low to $8,800 high.

Bitcoin price even settled below the $8,640 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $8,640 on the hourly chart of the BTC/USD pair.

Bitcoin Price
Bitcoin Price

It is now testing the $8,560 support, and the 50% Fib retracement level of the upward move from the $8,335 low to $8,800 high. If there is a break below the $8,560 support, the next important support and the last line of defense is near the $8,470 level.

If the bears are able to push the price below $8,470, it is likely to start a substantial decline in the coming session. In the mentioned bearish scenario, bitcoin may perhaps decline towards the $8,200 support level. Any further losses could lead the price towards the $8,000 support.

Bullish Case For BTC

If BTC bulls are able to protect the $8,470 support area, the price could climb higher. The first hurdle is near the trend line at $8,640, followed by the 100 hourly SMA at $8,700.

The main resistance is still near the $8,800 and $8,810 levels. Bitcoin must gain strength above the $8,800 resistance area to start a convincing upward move. The next bullish targets could be $9,200 and $9,250.

Technical indicators:

Hourly MACD – The MACD is slowly gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently sliding and it is well below the 50 level.

Major Support Levels – $8,560 followed by $8,470.

Major Resistance Levels – $8,640, $8,700 and $8,800.

Tweet123Share218ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

ripple xrp xrpusd (2)

Speculation Rises Around XRP After MoonPay Purchase and Cboe Greenlight for New Spot ETF

XRP is going through the week under a renewed wave of speculation as two separate developments, a MoonPay purchase that...

James Halver 4 hours ago
XRP

Analyst Predicts XRP Price Will Rise To $14 By Frontrunning Bitcoin By Over 600%

Crypto analyst Javon Marks has provided a bullish outlook for the XRP price, predicting that it could rally to $14,...

Scott Matherson 5 hours ago
dogecoin_doge_dogeusd_5_optimized

Dogecoin Price Volatility Returns as Market Weighs Bullish Indicators Against Recent Dip

The Dogecoin price has entered another period of volatility as traders attempt to weigh improving technical signals against renewed short-term...

James Halver 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana

Solana Hits Critical Demand Zone — Is A Surprise Bottom Loading?

Godspower Owie 31 minutes ago
Bitcoin news

Bitcoin Is Neither In A Bull Nor Bear Market: Expert Explains The Setup

Jake Simmons 2 hours ago
XRP

XRP Forecast Turns Explosive As Canadian Experts Highlight Massive FinTech Utility

Godspower Owie 4 hours ago

Premium Sponsors

Press Releases

  • BTC Bitcoin

    仮想通貨 1000倍...

    6 hours ago
  • MemeCoins

    【ico...

    6 hours ago
  • MaxiDoge Crypto

    2026年に買うべき仮想通貨...

    6 hours ago
  • MaxiDoge_

    DOGIが24時間で1,320%急騰 –...

    7 hours ago
  • ドージコイン 今後:100%急騰を狙うには、この重要ラインを死守できるかが分岐点となる

    ドージコイン...

    8 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.